John Dennehy on Nostr: Good morning from El Salvador We are now in DAY THIRTEEN since the government ...
Good morning from El Salvador
We are now in DAY THIRTEEN since the government rescinded Bitcoin as legal tender, at the request of the IMF (effective after 90 days)
This is NOT about particulars that were changed. It's about sovereignty. Everything comes down to sovereignty. That applies to the individual as well as the nation state
Who gets to decide?
The problem with our modern world, is that there are small, elite, opaque groups that decide for the rest of us and dictate our future
They have their own interests and incentives. Even worse, these groups are opaque so by design its difficult to determine what exactly those interests and incentives are
The IMF will now have deep access to everything to do with the terms of the agreement for years to come and effectively be able to dictate policy there by their de facto veto authority over anything that in their opinion (and ONLY their opinion) breaks the terms, which can be vague and open to interpretation
Loan payments will take place over 40 months and only begin once all preconditions are met
So what this means is that the IMF will dictate bitcoin policy in 'Bitcoin Country' until at least 2029
That should worry anyone who cares about Bitcoin. And the IMF should be opposed, at every turn, by anyone who cares about sovereignty
We are now in DAY THIRTEEN since the government rescinded Bitcoin as legal tender, at the request of the IMF (effective after 90 days)
This is NOT about particulars that were changed. It's about sovereignty. Everything comes down to sovereignty. That applies to the individual as well as the nation state
Who gets to decide?
The problem with our modern world, is that there are small, elite, opaque groups that decide for the rest of us and dictate our future
They have their own interests and incentives. Even worse, these groups are opaque so by design its difficult to determine what exactly those interests and incentives are
The IMF will now have deep access to everything to do with the terms of the agreement for years to come and effectively be able to dictate policy there by their de facto veto authority over anything that in their opinion (and ONLY their opinion) breaks the terms, which can be vague and open to interpretation
Loan payments will take place over 40 months and only begin once all preconditions are met
So what this means is that the IMF will dictate bitcoin policy in 'Bitcoin Country' until at least 2029
That should worry anyone who cares about Bitcoin. And the IMF should be opposed, at every turn, by anyone who cares about sovereignty